It’s easy to connect with commercial mortgage lenders through social media, emails and phone calls, but there’s still a lot of value in meeting face-to-face. One of the best ways to do this is to attend industry trade shows. These events are a time-tested way of making connections with both companies and individuals that can help you to succeed as a commercial mortgage broker.
Here are some steps that you can take to make the most of each trade show experience:
Initiate a conversation.
The first step is easy; simply walk up to a lender’s booth and introduce yourself. Let them know that you’re a commercial mortgage broker and explain the types of transactions you close. Remember to bring plenty of business cards and take one of theirs so that you can keep in contact after the show.
While talking with each lender, don’t be afraid to ask them about their company and the types of mortgage products that they offer. Learn as much as you can about their niche. Ask them about the benefits of working with them and what they offer brokers in the way of education and support. The broker-lender partnership should be a mutually beneficial one, so it’s important to understand what each side gains in working together.
Follow up with new connections.
Once the show ends, it’s important to reach out to the most promising of your contacts. You should have a follow-up strategy in place before the show so that you know which lenders to prioritize. A great way to do this is to code the back of each business card to indicate your level of interest in each commercial mortgage lender. For example, an “A” or a “1” on the back of the card might demonstrate that you had a good conversation with the contact and should follow up quickly.
Industry trade shows remain a great way for commercial mortgage brokers to meet with lenders and develop an understanding of what they can offer. Be prepared to talk with the lenders you’re most interested in meeting, ask them plenty of questions so that you can gauge whether or not they’re a good fit for you, and follow up with the lenders you’re most interested in working with. These new connections will likely benefit you and lead to more outlets for small-balance commercial mortgages.